For every organisation, their procurement to pay process is very tedious as it is the most time-consuming as well as labour-intensive function. Inspite of planning the entire procurement process, companies face numerous issues especially because of manual handling. The manual process is prone to errors and also leads to a lot of paper-work. Moreover, it involves high processing costs, slow approval cycles and missed discount opportunities. Apart from manual handling challenges, some of the other challenges in procurement function are selecting and onboarding new suppliers, updating vendor details, simplifying requisitions, standardizing contracts and managing the complete purchase-to-procure cycle. In order to overcome these issues, the ideal solution is to automate the entire procurement function.
Procurement management software automates the entire purchasing process and manages all the expenditure activities within the organisation. Not only this, but it also manages the evaluation, selection, and creation of formal agreements with the suppliers. Furthermore, automated software enables supplier relationships management and manages transactional purchasing of goods and services. It also manages the accounts payable process and thereby completes the entire source-to-settle cycle by processing supplier bills for payment.
How We Can Help You Streamline and Manage Your Procurement Function?
An effective procurement management software can benefit an organisation in numerous ways. Some of which are:
It brings end-to-end procurement functionality into a single, cloud-native platform by enabling you to manage all the direct as well as indirect spend in the organisation with unprecedented ease and accessibility.
It helps you to onboard efficient and cost-effective vendor partners by allowing you more time to negotiating better procurement contracts with potential suppliers at the lowest prices.
It is a comprehensive tool that eliminates the requirement of having separate, stand-alone software and tools for managing individual functions.
It enables you to elevate your procurement team’s performance and increase their productivity.
It helps to minimize the processing cost and time.
It helps to enforce better compliance within the organisation.
It leads to efficient supply chain management.
It helps to automate the entire procurement process right from initial requisitioning and approvals to purchasing and order tracking. This is all done with the help of drag and drop simplicity.
It helps to easily track the purchase requests and approval history.
It allows central management of the contracts and supplier data.
Stop relying on manual and paper-based processes and rather embrace automation with our cloud-based procurement management software. With our efficient procurement management solutions, you can proactively manage your suppliers as well as the business process throughout the source-to-settle cycle. So, grab the opportunity to transform your procurement function to offer integrated, fast and effective services to all areas of your organization.
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